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Some claim that it means just "off" in some way of american speaking
Some say it even means "because" in some cases.
Some say it is a definitely wrong use of grammar.
It’s a way of profiting off of something you expect to drop in value.

My new invention will knock the socks off of the scientific community.

and even

The collapse happened off of the devaluation.
off of by Khanon November 29, 2018

Off of Slack 

When a person does something just to do it.
Person 1: Why are you cleaning your shoes?..They're already clean.

Person 2: SMT -_- I'm doin' this off of slack boy...chill!!! :|
Off of Slack by Ann-Nisa October 28, 2009

off of you 

Done with your bull shit and she is just chilling done tripping ready for the next but she is still gonna be there for you lowkey
off of you by Just read November 13, 2020

based off of 

a way to say "based on" when you want to sound dumb and use an extra syllable
based off of by it'sokaytothink August 9, 2012

slap the black off of you 

A way to indicate slapping someone of African American decent very hard.
"Boy do that one more time and i'll slap the black off of you!"

chip off of the old block 

Where the "chip" is referring to the son (or sometimes daughter), and the "block" is referring to the father (but seldom the mother). Meaning that the offspring heavily resemble their own parents. Also meaning that the son has acquired a characteristic from their father.
Hey Johnny, that's exactly what your Pop said! You're a real chip off of the old block, ya know that?
chip off of the old block by Coffee February 27, 2005